Statoil Petroleum awards IMR contract

Reach Subsea has been awarded a frame agreement for inspection, maintenance and repair (IMR) services by Statoil Petroleum.

Reach Subsea Chief Executive Jostein Alendal said the five-year agreement begins in 2019.

The commercial terms have not been disclosed but it is call-off based, which means Statoil can award contracts for IMR services in the North Sea on an as-needed basis.